Neb. (KOLN) – Nebraska Attorney General Mike Hilgers co-led a group of 16 state attorneys general in raising concerns over several major accounting firms’ push for climate-related disclosures in financial reporting
The attorneys general sent a letter to the “Big 4” accounting firms: Deloitte; Ernst & Young; KPMG; and PricewaterhouseCoopers. The attorneys general claims that the firms stand to financially benefit from the additional reporting.
“The Big 4’s climate commitments force clients to make burdensome climate-related disclosures that drive up the costs of their services and place onerous requirements on farmers and small businesses,” said Attorney General Hilgers. “These costs will ultimately be passed onto consumers, who will be forced to bear the burden of increased prices for food, energy, and other everyday products.”
The attorneys general’s letter addresses concerns that the Big 4’s climate activism may violate state consumer protection laws and of the firm’s lack of disclosure on their climate commitments.
In the letter, the attorneys general say that the Big 4 may have also violated state contractual provisions requiring compliance with state law. They warn that this could result in penalties and termination of the Big 4’s contracts.
Joining Attorney General Hilgers in co-leading Monday’s letter are the attorneys general of Texas, Alaska, and Florida. The letter was also joined by the attorneys general of Alabama, Arkansas, Idaho, Iowa, Mississippi, Montana, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, and West Virginia.
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